22 juillet, 2011

Stocks set for mixed open

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NEW YORK�(CNNMoney) -- U.S. stocks were poised for a mixed open Friday, as investors weigh the latest bailout plan for Greece, U.S. debt ceiling talks and corporate earnings.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures hovered around breakeven ahead of the opening bell. Futures measure current index values against perceived future performance.

U.S. stocks surged on Thursday, following news that European leaders reached an agreement to contain Greece's debt crisis.

The aid package, which officials said will cover all of Greece's financing needs, involves lowering interest rates and extending the payback period on existing loans to Greece from the EU and International Monetary Fund.

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Companies: Before the bell, General Electric (GE, Fortune 500) reported operating earnings of $3.7 billion or 34 cents per share -- a jump of 17% from the year-ago quarter. Shares were up 2% in premarkets.

Caterpillar (CAT, Fortune 500) reported a profit of $107 million, a 30% increase from the second quarter of 2010. However, shares fell 4.6% in premarkets.

Former Dow member Honeywell (HON, Fortune 500) beat analyst estimates by 4 cents with second-quarter earnings of $1.02 per share, but the company missed on revenues. Shares fell 2% in premarket trading.

Verizon (VZ, Fortune 500) reported earnings per share of 57 cents, topping analyst estimates by 2 cents. The report marks a sharp turnaround from last year's second quarter, when the wireless giant reported a loss of 42 cents per share. Shares were up slightly in premarket trading.

The Wall Street Journal reported late Thursday that the Department of Justice is preparing subpoenas against its parent company, News Corp (NWSA, Fortune 500)., as part of a preliminary investigation into the company's phone hacking scandal.

On Thursday, Microsoft (MSFT, Fortune 500) said net income in its fiscal fourth-quarter rose 30% to $5.9 billion, or 69 cents per share. Analysts polled by Thomson Reuters had forecast earnings of 58 cents per share. Microsoft shares fell almost 1% in premarket trading.

Economy: There are no major economic reports on tap Friday.

World markets: European stocks were higher in morning trading. Britain's FTSE 100 climbed 0.9%, the DAX in Germany rose 0.6% and France's CAC 40 gained 0.9%.

Asian markets ended the session higher. The Shanghai Composite ticked up 0.2%, the Hang Seng in Hong Kong increased 2.1% and Japan's Nikkei rallied 1.22%.

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Currencies and commodities: The dollar strengthened against the euro and British pound, but weakened against the Japanese yen.

Oil for September delivery gained 15 cents to $99.28 a barrel.

Gold futures for August delivery rose $9.50 to $1,596.50 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2.99% from 3.01% late Thursday. To top of page

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